SafeMoon DeFi Project Files for Bankruptcy

On December 14, SafeMoon attorney Mark Rose подал заявление о банкротстве DeFi-проекта. The SFM token fell sharply.

Documents under the Главе 7 Кодекса США о банкротстве направлены в суд округа Юта. SafeMoon US LLC estimated its assets at between $10 million and $50 million, liabilities between $100,001 and $500,000.

One Reddit user разместил a screenshot of a letter allegedly authored by the director of restructuring. According to the letter to the team, SafeMoon’s management could not pay employees’ salaries prior to filing for bankruptcy.

“You will have to sue in court … to recover unpaid wages,” the notice says.

In the wake of the news, the SFM token collapsed to around $0.00005898. Over the last 24 hours, the coin has fallen 39.2%, according to CoinGecko.

In March, an unknown party compromised SafeMoon’s liquidity pool on BNB Chain and withdrew assets amounting to around $9 million. PeckShield experts suggested that the bug exploited by the hacker arose from a prior update to the burn function’s code.

Later the attacker agreed to return 80% of the withdrawn funds in exchange for ceasing the pursuit.

Earlier in November, the Eastern District of New York prosecutors filed charges against the founders and executives of SafeMoon for fraud amounting to millions of dollars.

In the same month, authorities paused the bail process for the project’s CEO John Karoni due to concerns about flight risk and “danger to the public.” The U.S. Securities and Exchange Commission also brought charges against the leadership.